Bus ticket between two cities cost

Assignment Help Business Economics
Reference no: EM131005903

A bus ticket between two cities cost $150 and the trip will take 25 hours, whereas an airplane ticket costs $450 and takes 5 hours. Kathy values her time at $12 per hour, and Rachel values her time at $18 per hour. Will Kathy take the bus or the plane? Which will Rachel take? Explain.

Reference no: EM131005903

Questions Cloud

Why is their growing disparity between the rich and poor : Why is their a growing disparity between the rich and poor in the US? What are some of the reasons for this and what should the government do to bring about growing equality with income? Do we as citizens have an ethical responsibility to help the po..
Prevent price-gouging after occurrence of natural disaster : Laws that prevent price-gouging after the occurrence of a natural disaster are a practical example of which of the following market interventions?
Money multiplier when the economy faced the financial crisis : List all possible factors to influence the money multiplier when the economy faced the financial crisis. The money multipliers were changed before and after financial crisis. Explain the FED’s monetary policies to increase the money supply in the Gre..
What are the economic costs of operating bed and breakfast : Lorelai purchases an inn in 2004 for $200,000. Today (2016) if she wants to operate it as a bed and breakfast she would have to pay her cook $25,000/year, her assistant manager $50,000/year, and $10,000 in electric bills. What are the explicit costs ..
Bus ticket between two cities cost : A bus ticket between two cities cost $150 and the trip will take 25 hours, whereas an airplane ticket costs $450 and takes 5 hours. Kathy values her time at $12 per hour, and Rachel values her time at $18 per hour. Will Kathy take the bus or the plan..
Maximum write down in the value of the banks loans : Suppose that Bank One has deposits of $1200, bank capital of $100, reserves at $120 and loans at $1180. What is the maximum write down in the value of the bank's loans that will keep bank capital from falling below $25?
Barrels-recreational services measured in wilderness days : A federal land holding in Alaska can produce both oil measured in barrels and recreational services measured in wilderness days. Draw a PPF diagram with quantity of wilderness days measured on y-axis and quantity of oil barrels on x-axis. Identify th..
Distinguish between interindustry and intraindustry trade : Distinguish between interindustry and intraindustry trade, providing examples of each. Offer possible explanations for interindustry and intraindustry trade.
Factor proportions theory : Does the factor proportions theory shed any light on Mexican migration to the Unites States? How does it account for US direct investment in Canada?

Reviews

Write a Review

Business Economics Questions & Answers

  Calculate the degree of economies of scope and interpret

The Johnson Corporation produces 1000 wood cabinets and 500 wood desks per year, for total cost of $30,000. It has been estimated that if the firm produced 1000 wood cabinets only, the cost would be $23,000, and if the firm produced 500 wood desks on..

  Elucidate what impact would the universal replicator have

Assume this technology becomes widely adopted throughout the country by manufacturers of all types. Elucidate what impact would the Universal Replicator have on the economy.

  Calculate the firms expected present value

You are in charge of hiring for the sales department of Nature’s Own chemical company. You are choosing between two workers, a “safe” worker who will produce 250 thousand dollars in sales (net of variable costs) in each of the next four years. Set up..

  Market will respond to the new product

Explain how the market will respond to the new product. If demand is high, then it's worthwhile to make the extra investment for special facilities also equipment needed to produce the component internally.

  Below is a list of domestic output and national income

below is a list of domestic output and national income figures for a given year. all figures are in billions. the

  Budget constraint of the representative consumer

Write down the budget constraint of the representative consumer and Write down the maximization problem of the representative consumer and find labor supply

  Determine the accounting-economic profit for this venture

Mary Graham worked as a real estate agent for Piedmont Preoperties for 15 years. Her annual income is approximately $100,000 per year. Mary is considering establishing her own real estate agency.  Determine the (pre-tax) accounting profit for this ve..

  Describes third-worldism as an automatic resistance

Halle describes “Third-worldism” as an automatic resistance to change among poorer countries to proposals that come from richer countries. What could be done to overcome this distrust?

  Purchasing power parity grasp for laptops

What would be the new equilibrium exchange rate that would make purchasing power parity grasp for laptops.

  Result in the same magnitude of deadweight loss

Suppose the government imposes a price ceiling of $50 on a market characterized by the following information: Qd=700-2p Qs=100+4p Calculate the magnitude of deadweight loss form the price ceiling. Find a price floor that will result in the same magni..

  What happens to the value of the owners equity

Illustrate what happens to the value of the owners' equity in this bank. Elucidate how large a decline in the value of bank assets would it take to reduce this bank's capital to zero.

  Enrollment variance and utilization variance

Determine the enrollment variance for the month.Determine the utilization variance for the month.Determine the efficiency variance for the month.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd